ProShare Advisors LLC Reduces Stake in Chemed Co. (NYSE:CHE)

ProShare Advisors LLC lowered its stake in shares of Chemed Co. (NYSE:CHE - Free Report) by 3.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 56,400 shares of the company's stock after selling 2,317 shares during the period. ProShare Advisors LLC owned approximately 0.37% of Chemed worth $29,881,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CHE. Norges Bank acquired a new position in Chemed during the 4th quarter valued at about $95,872,000. Freestone Grove Partners LP acquired a new position in Chemed during the 4th quarter valued at about $61,664,000. Raymond James Financial Inc. acquired a new position in Chemed during the 4th quarter valued at about $42,023,000. Citadel Advisors LLC boosted its stake in shares of Chemed by 197.4% in the 4th quarter. Citadel Advisors LLC now owns 77,143 shares of the company's stock worth $40,870,000 after buying an additional 51,206 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of Chemed by 18.9% in the 4th quarter. FMR LLC now owns 283,790 shares of the company's stock worth $150,352,000 after purchasing an additional 45,174 shares during the period. Institutional investors and hedge funds own 95.85% of the company's stock.

Chemed Trading Up 0.4%

Shares of Chemed stock traded up $2.47 during trading on Tuesday, hitting $580.49. The stock had a trading volume of 130,274 shares, compared to its average volume of 101,987. Chemed Co. has a 12 month low of $512.12 and a 12 month high of $623.61. The firm has a market cap of $8.49 billion, a price-to-earnings ratio of 29.33, a P/E/G ratio of 2.15 and a beta of 0.59. The business's 50-day moving average is $586.00 and its 200 day moving average is $564.69.

Chemed (NYSE:CHE - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $5.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.59 by $0.04. Chemed had a return on equity of 27.86% and a net margin of 12.69%. The company had revenue of $646.94 million for the quarter, compared to the consensus estimate of $641.78 million. During the same quarter last year, the business posted $5.20 earnings per share. The firm's revenue was up 9.8% compared to the same quarter last year. As a group, equities analysts expect that Chemed Co. will post 21.43 EPS for the current year.

Chemed Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Thursday, May 29th will be paid a $0.50 dividend. The ex-dividend date is Thursday, May 29th. This represents a $2.00 dividend on an annualized basis and a yield of 0.34%. Chemed's dividend payout ratio is presently 9.74%.

Insider Activity at Chemed

In other Chemed news, CEO Kevin J. Mcnamara sold 1,000 shares of the company's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $615.33, for a total transaction of $615,330.00. Following the completion of the sale, the chief executive officer now directly owns 101,679 shares in the company, valued at $62,566,139.07. This represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Spencer S. Lee sold 1,500 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $577.99, for a total value of $866,985.00. Following the completion of the transaction, the executive vice president now directly owns 14,627 shares of the company's stock, valued at $8,454,259.73. This represents a 9.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,500 shares of company stock valued at $4,401,120 over the last 90 days. 3.29% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CHE shares. Royal Bank of Canada boosted their target price on shares of Chemed from $667.00 to $674.00 and gave the company an "outperform" rating in a report on Monday, April 28th. StockNews.com raised shares of Chemed from a "hold" rating to a "buy" rating in a report on Friday, March 7th.

Chemed Profile

Chemed Corporation provides hospice and palliative care services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers primarily in the United States. The company operates in VITAS and Roto-Rooter segments. It offers plumbing, drain cleaning, excavation, water restoration, and other related services to residential and commercial customers through company-owned branches, independent contractors, and franchisees.